Bulgaria: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in Bulgaria

In 2021, the Bulgarian market for frozen crabs and crabs meat was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption continues to indicate tangible growth. Frozen crab and crab meat consumption peaked in 2021 and is expected to retain growth in the immediate term.

Production of Frozen Crabs And Crabs Meat in Bulgaria

In value terms, frozen crab and crab meat production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 23%. As a result, production reached the peak level of $X, and then fell in the following year.

Exports of Frozen Crabs And Crabs Meat

Exports from Bulgaria

Frozen crab and crab meat exports from Bulgaria skyrocketed to X tons in 2021, increasing by 127% compared with 2020. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2017 when exports increased by 7,403% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen crab and crab meat exports soared to $X in 2021. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 3,253% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Sweden (X tons) was the main destination for frozen crab and crab meat exports from Bulgaria, with a 86% share of total exports. Moreover, frozen crab and crab meat exports to Sweden exceeded the volume sent to the second major destination, Greece (X tons), ninefold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Sweden stood at +93.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+79.3% per year) and Romania (-22.2% per year).

In value terms, the largest markets for frozen crab and crab meat exported from Bulgaria were Sweden ($X), Greece ($X) and Romania ($X).

Sweden, with a CAGR of +96.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for frozen crabs and crabs meat stood at $X per ton in 2021, with an increase of 25% against the previous year. Over the period under review, the export price, however, faced a significant contraction. The most prominent rate of growth was recorded in 2018 an increase of 55%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Sweden ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Crabs And Crabs Meat

Imports into Bulgaria

In 2021, frozen crab and crab meat imports into Bulgaria skyrocketed to X tons, increasing by 216% on the previous year. Overall, imports saw a measured increase. The growth pace was the most rapid in 2017 when imports increased by 699% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, frozen crab and crab meat imports skyrocketed to $X in 2021. In general, imports showed a significant increase. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest frozen crab and crab meat supplier to Bulgaria, with a 84% share of total imports. Moreover, frozen crab and crab meat imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), eightfold. Germany (X kg) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands amounted to +330.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-30.7% per year) and Germany (-21.9% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of frozen crabs and crabs meat to Bulgaria, comprising 91% of total imports. The second position in the ranking was held by Germany ($X), with a 5.5% share of total imports. It was followed by the Czech Republic, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands amounted to +324.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.1% per year) and the Czech Republic (+5.1% per year).

Import Prices by Country

The average import price for frozen crabs and crabs meat stood at $X per ton in 2021, growing by 299% against the previous year. In general, the import price posted a significant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+51.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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